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BitConnect Announces Shutdown

Security-risk

The ISBuzz Post: This Post BitConnect Announces Shutdown appeared first on Information Security Buzz.

BitConnect has announced that it will close down its lending and exchange platform after experiencing a series of longwindowsof server downtime over the past several days.The website claims the reason for the outage is a “continuousDDoSattack” but a notice on its site reads its team is “performing some maintenance.” Sean Newman, Director at Corero Network Security commented below.

Sean Newman, Director at Corero Network Security:

“The cryptocurrency gold rush has dominated the news agenda in recent months, but as investors flock to these platforms, they havealso become a hot target for cyber criminals looking to exploit the vast wealth and formative security policies in use.This is in addition to increasing trend seen during 2017 where the anonymity afforded by cryptocurrencies saw a significant increase in their use as a payment mechanism for cyber-extortion and in...(continued)

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